What is the Full Form of BPL?
The acronym BPL stands for Below Poverty Level.
Whether it’s current technology or our daily lives, we’ve come a long way along the path of prosperity and capitalism. Poverty has not, however, been removed from the core of modern society. More than 1.2 billion people have been living in extreme poverty since the 1990s. Nonetheless, more than 9.2% of the global population lives in poverty, which is unquestionably alarming.
Below Poverty Line Highlights
- BPL is a monetary indicator or bar connected with a specific income level.
- The BPL is generally updated by the World Bank for the global economy, although it is also sometimes altered by national governments for their own countries.
- The concept of the Below Poverty Line is also useful in identifying those who are financially fragile and in immediate need of government assistance.
- All those people whose earnings are under the fixed parameter regarding income associated with the notion of BPL, practically fall under the BPL.
New BPL Standards
The global poverty line must be updated on a regular basis, as the cost of living continues to rise, and the cost of living in different parts of the world varies and evolves.
In October 2015, the global poverty line was adjusted to $1.90 per day from its prior estimate of $1.25 per day, based on these statistics and some other characteristics.
Base of the new Below Poverty Line Measurement Concept
- Virtually every country has its own version of BPL. It aids in identifying the limit below which a citizen is unable to meet his minimum basic needs, such as food, clothing, and shelter. Poverty lines in richer countries tend to be higher, whereas poverty lines in poorer ones tend to be lower.
- The World Bank evaluated the poverty line of the 15 poorest countries from 2005 to set global BPL criteria in 2015, and calculated the Concept of the poverty line at $1.90 per day per person.
How many people are living Below the Poverty Line worldwide?
Around the world, approximately 689 to 700 million people live in poverty, surviving on less than $1.90 per day.
Approximately two-thirds of the 9.2% of the global population living in poverty are children or youth. When we consider the geographical circumstances, we can see that women are particularly susceptible.
Are the Poverty Standards same in every country?
No, the poverty lines for all countries are not the same. Because the cost of surviving is higher in higher-income and developed countries, the poverty standard is also higher in those countries when compared to underdeveloped ones.
However, the World Bank has introduced the concept of the median poverty line in 2017. It also grouped the country into three categories to make the estimation of the BPL easier. Categories of these countries are
- Low-income countries
- Middle-income countries
- Higher-income countries
The World Bank has also established distinct poverty lines for various countries, which are as follows.
- $1.90 per day for a single person. (comprising 33 countries with low incomes)
- $3.20 per day per person (for 32 lower-middle-income nations)
- $5.50 per person per day (for 32 countries with an upper-middle income)
- $21.70 per day per person (for 29 high-income nations)
The Present Situation of Poverty Eradication Missions
The United Nations Sustainable Development Goals include the eradication of poverty by 2030.